First Home Buyer Calculator Australia 2026-27
Every grant, exemption and scheme you qualify for — and the exact cash you need.
Work out the minimum cash to buy your first home: the 5% deposit First Home Guarantee (no income caps since October 2025), state stamp duty exemptions, the First Home Owner Grant, FHSS super withdrawals, and the LMI you avoid — all in one place.
Duty modelled for NSW, VIC and QLD. Scheme caps for other areas: Housing Australia's postcode tool.
The minimum-cash calculation
Deposit + costs − concessions
Minimum cash = 5% deposit + stamp duty (after your state's first-home concession) + legal costs − any First Home Owner Grant. Buying an established $750,000 home in NSW: $37,500 deposit + $0 duty (exempt to $800,000) + $2,500 legals = $40,000 — versus $190,485 for a 20% deposit with full duty as a non-first-home buyer.
The stack
The concessions combine: the 5% guarantee removes LMI, the duty exemption removes the biggest transaction cost, the FHOG adds cash for new builds, and FHSS lets your deposit grow inside super's 15% tax environment. This calculator applies all four at once.
The expanded scheme: no income caps, no place limits
Since 1 October 2025, every eligible first home buyer with a 5% deposit can use the First Home Guarantee — the government guarantees up to 15% of the loan so lenders charge no LMI. The old income caps and annual place limits are gone.
| Location | Price cap (2026) |
|---|---|
| Sydney & major NSW regional centres | $1,500,000 |
| Melbourne & Geelong | $950,000 |
| Brisbane, Gold Coast & Sunshine Coast | $1,000,000 |
| Other areas | Lower caps — check the Housing Australia postcode tool |
Requirements: first home buyer (or no property owned in the last 10 years), Australian citizen or PR, owner-occupier, deposit of 5%–20%, and a participating lender.
Where first home buyers pay no duty
| State | $0 duty up to | Concession to |
|---|---|---|
| NSW (new or established) | $800,000 | $1,000,000 |
| VIC | $600,000 | $750,000 |
| QLD — established | $700,000 | $800,000 |
| QLD — new build | $0 at any price (from 1 May 2025) | |
The savings are large: $28,485 on a $750,000 NSW purchase, $31,070 at $600,000 in Victoria. In the concession zones the duty phases in on a sliding scale — for exact figures see the NSW, VIC and QLD stamp duty calculators.
Cash grants for new homes
The FHOG applies to new homes only — never established purchases: NSW $10,000 (new ≤ $600,000, or house-and-land builds), VIC $10,000 (new ≤ $750,000), QLD $15,000 (new ≤ $750,000 — note Queensland's boosted $30,000 grant ended for contracts signed after 30 June 2026).
The grant is paid at settlement or first construction drawdown, counts toward your deposit with most lenders, and stacks with the duty exemption and the 5% scheme.
Save your deposit inside super at 15% tax
Voluntary contributions (salary sacrifice or personal deductible) can be released for your first home: up to $15,000 of contributions per year and $50,000 total per person — $100,000 for a couple — plus deemed earnings. Contributions went in at 15% tax instead of your marginal rate, so a 30%-bracket saver ends up thousands ahead of a bank account.
Start contributions well before you plan to buy (only contributions already made count), request an FHSS determination from the ATO before signing a contract, and use the salary sacrifice calculator to size the contributions.
❓ Frequently asked Frequently asked questions
How does the 5% deposit scheme work in 2026?
The government guarantees up to 15% of your loan, so you buy with a 5% deposit and pay no LMI. Since 1 October 2025 there are no income caps and no place limits — just the first-home test, owner-occupancy, and your area's price cap.
What are the property price caps?
For 2026: $1,500,000 in Sydney and major NSW centres, $950,000 in Melbourne and Geelong, $1,000,000 in Brisbane, the Gold Coast and Sunshine Coast. Other areas differ — check your suburb in Housing Australia's postcode tool.
How much stamp duty does a first home buyer pay?
Often none: NSW $0 to $800,000 (concession to $1M), VIC $0 to $600,000 (to $750,000), QLD $0 to $700,000 established (to $800,000) and $0 at any price for new builds.
What is the First Home Owner Grant?
New homes only: $10,000 in NSW and VIC, $15,000 in QLD (down from $30,000 for contracts from 1 July 2026). It stacks with the duty exemption and the deposit scheme.
Should I use the scheme or save a 20% deposit?
The scheme gets you in years earlier with no LMI — but a 95% loan means higher repayments and more interest over time. If prices grow faster than you can save (as they have in most capitals), earlier usually wins. Model the repayments in the mortgage repayment calculator before deciding.
Can a couple combine FHSS releases?
Yes — each partner can release up to $50,000 of eligible contributions plus earnings, for $100,000 combined, provided both are first home buyers. Both must request ATO determinations before signing.
Where these figures come from
Scheme, duty, grant and super figures come from the program administrators of record, verified July 2026.
- First Home Guarantee (caps, expansion) — Housing Australia — Support to buy a home.
- NSW duty exemption (FHBAS) — Revenue NSW — First home buyer.
- VIC duty exemption & FHOG — SRO Victoria — First home owner.
- QLD concessions & grant — Queensland Revenue Office — Home concessions.
- First Home Super Saver scheme — ATO — FHSS scheme.
Last checked: July 2026. Duty modelled for NSW, VIC and QLD; other states and territories vary — check your state revenue office. LMI figures are indicative; insurers price individually.
Select the question that matches where you are right now.
Your result is the minimum cash to settle at your price point using every first-home concession — the honest number to aim your savings at.
Compare the 5%-path number against your funds. If you're short, the gap is your savings target; if you're over, consider a bigger deposit to cut repayments.
Not a borrowing-power check — a lender still has to approve a 95% loan on your income. Pair it with the borrowing capacity calculator.
Scheme caps, duty and grants verified July 2026 for NSW/VIC/QLD. LMI is indicative. All calculations run in your browser.
Three thresholds dominate the outcome: the duty exemption ceiling, the scheme price cap, and new-vs-established.
A $790,000 NSW purchase pays $0 duty; $1,010,000 pays full freight (~$41k). Around thresholds, negotiating price matters double.
The headline caps cover capitals and major centres; regional caps are lower. One postcode can change eligibility — check the Housing Australia tool.
New builds unlock the FHOG everywhere and $0 duty in QLD, but carry construction risk and timelines. Established homes settle faster but get fewer concessions.
Closing the gap is about stacking the concessions deliberately.
Only contributions made before you buy count. Even one year of $15,000 salary-sacrificed adds ~$12,750+ to your deposit at lower tax.
Shifting your search $20k under a duty ceiling can be worth more than a year of saving.
Lenders want to see funds beyond the minimum — building inspections, moving costs, and a post-settlement emergency fund.
Once the cash side works, pressure-test the loan side.
Check what lenders will actually extend on your income at 95% LVR.
Borrowing capacity →Model repayments on the 95% loan across rate scenarios.
Mortgage repayment →